MUMBAI: The Maharashtra Government has accorded the final approval to the much-awaited redevelopment of Asia’s biggest slum, Dharavi, spread over 600 acres of prime land in Mumbai to Adani Group.
A representative of the Mumbai Metropolitan Region Development Authority, which oversees the project, on July 15 confirmed it was given the go ahead by the Maharashtra state government. A spokesperson for Adani Group declined to comment.
Adani Realty had won the project with a bid of 50.7 billion rupees ($620 million) late last year. The slum is spread over roughly 620 acres (250 hectares) of potentially prime real estate in the financial capital, which is home to more than 20 million people. Dharavi, made famous by the film Slumdog Millionaire, neighbors the BandraKurla Complex, an upmarket district of shopping malls, embassies and banks, including offices of JP Morgan Chase and Co.